B&G Foods, Inc. (NYSE:BGS) Given Average Rating of “Reduce” by Brokerages

Shares of B&G Foods, Inc. (NYSE:BGS) have been given an average rating of “Reduce” by the five analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $8.30.

A number of equities analysts have issued reports on the stock. Barclays reduced their price objective on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $10.00 price objective on shares of B&G Foods in a research note on Wednesday, August 7th. Evercore ISI cut their target price on B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 6th. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, TD Cowen cut their price target on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a research report on Wednesday, November 6th.

Insiders Place Their Bets

In other B&G Foods news, Director Stephen Sherrill bought 70,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were purchased at an average price of $6.63 per share, for a total transaction of $464,100.00. Following the transaction, the director now directly owns 353,084 shares in the company, valued at approximately $2,340,946.92. This trade represents a 24.73 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jordan E. Greenberg sold 8,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total value of $66,640.00. Following the transaction, the executive vice president now owns 66,095 shares in the company, valued at approximately $550,571.35. This trade represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders purchased a total of 85,111 shares of company stock valued at $561,804 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dana Investment Advisors Inc. lifted its stake in shares of B&G Foods by 23.5% in the 2nd quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company’s stock valued at $5,739,000 after acquiring an additional 134,937 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of B&G Foods during the second quarter valued at about $958,000. SG Americas Securities LLC grew its holdings in shares of B&G Foods by 36.7% during the first quarter. SG Americas Securities LLC now owns 17,231 shares of the company’s stock worth $197,000 after purchasing an additional 4,623 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of B&G Foods by 16.1% in the first quarter. ProShare Advisors LLC now owns 15,697 shares of the company’s stock valued at $180,000 after buying an additional 2,180 shares during the period. Finally, California State Teachers Retirement System boosted its position in B&G Foods by 3.2% during the 1st quarter. California State Teachers Retirement System now owns 78,527 shares of the company’s stock worth $898,000 after buying an additional 2,466 shares during the period. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Stock Performance

BGS opened at $6.30 on Friday. B&G Foods has a 1-year low of $6.25 and a 1-year high of $11.97. The firm has a 50-day moving average price of $8.40 and a two-hundred day moving average price of $8.66. The stock has a market capitalization of $498.31 million, a PE ratio of -18.51 and a beta of 0.61. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40.

B&G Foods (NYSE:BGS) last released its earnings results on Tuesday, November 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.07). The firm had revenue of $461.10 million during the quarter, compared to analyst estimates of $473.82 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period last year, the business posted $0.27 earnings per share. As a group, equities analysts anticipate that B&G Foods will post 0.73 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be paid a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 12.07%. B&G Foods’s dividend payout ratio is -223.52%.

B&G Foods Company Profile

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.